Gold respects round levels

Note: This section contains information in English only.
Source: Dukascopy Bank SA


It appears that the decline of price for Gold occurred due to markets turning to Bitcoin as a safe haven asset. The move is inversely correlated to the surge of risk assets on Monday. From a technical perspective, the commodity found support in 2,020.00. By mid-Tuesday, the price had recovered to the combined resistance of the 2,040.00 level and the 100-hour simple moving average.

A surge of the commodity price is set to face the 2,050.00 level and the zone that is marked around it. Meanwhile, note the descending 200-hour simple moving average. Higher above, the 2,060.00 level might act as resistance, before the price reaches the high level zone near 2,075.00.

In the case of a decline of the metal's price, the 2,030.00, 2,020.00 and 2,010.00 levels are set to act as support. All of them have shown to be capable of impacting the price. It is clear that gold traders set their orders around round levels.
Back to articles

Actual Topics

Wed, 10 Jan 2024 13:47:22 GMT

EUR/USD waits for CPI

In general, technical analysis is set to remain rather irrelevant until the publication of the US Consumer Price Index on Thursday at 13:30 GMT. Meanwhile, note that some impact could be made by strong clusters of technical levels. Support is found near 1.0930 and resistance was located at 1.0980. A move above 1.0980 is set to face a number of

Tue, 09 Jan 2024 13:45:52 GMT

USD/JPY returns back below 144.30/145.00

As the world read the US employment report, it was discovered that the total workforce had decreased. Namely, despite the overall data being better than expected, the numbers were misleading, as their calculation base was smaller. The USD/JPY rate reacted to the news with a move below the 144.30/145.00 zone that immediately resumed acting as resistance. The resistance of

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.